Vornado Realty Trust today announced that it has secured a major new lease with Weaver and Tidwell, L.L.P. (Weaver) at PENN 1, its redeveloped office tower located at the doorstep of Manhattan’s new West Side.
Weaver, which currently occupies 8,000 RSF on a portion of the 32nd floor, will now occupy 36,500 RSF across the entire 28th floor. Buchbinder Tunick & Company, a firm that has been a PENN 1 tenant since 1997, joined Weaver through a transaction in January 2024. Vornado has now secured 1.5 million square feet of new leases, renewals and expansions at the 55-story tower since the start of its redevelopment of THE PENN DISTRICT.
A national accounting and consulting firm, Weaver provides audit, tax and advisory services to clients from coast to coast. Nationally ranked by both INSIDE Public Accounting (IPA) and Accounting Today, Weaver will consolidate its entire New York City workforce, including those previously located at its 500 Fifth Avenue location, into PENN 1.
“Weaver’s decision to relocate its New York team to PENN 1 validates everything we have accomplished in THE PENN DISTRICT,” said Vornado Executive Vice President Glen Weiss. “Our redevelopment of PENN 1 continues to attract forward-looking companies, like Weaver, who understand the importance of collaborative and creative work environments. We continue to experience strong tenant interest since completing the PENN 1 transformation, rolling out our WorkLife amenity program, and delivering on a wide range of dining, retail and public realm improvements throughout THE PENN DISTRICT.”
“At Weaver, we are dedicated to our people-centric culture that puts our team members in the best position to collaborate, innovate and serve our clients well,” said CEO and Managing Partner, John Mackel. “The redeveloped PENN 1, which sits atop North America’s most accessible transit hub and features unparalleled in-building and neighborhood amenities, proved to be an ideal spot to consolidate our New York City team.”
Vornado has redesigned and reprogrammed PENN 1 and its neighboring PENN 2 tower to serve as a two-building connected campus in the heart of THE PENN DISTRICT. The twin projects encompass 4.4 million square feet of premier office space, including 180,000 square feet of “WorkLife” amenities. These amenities, which are available to all tenants in Vornado’s PENN DISTRICT holdings, incorporate The Landing, a full-service restaurant, bar and private dining rooms; a 35,000-square-foot wellness and fitness center; 100,000 square feet of flexible workspace and conference facilities; The Perch, a lushly landscaped rooftop park serviced by an indoor glass pavilion; and a 280-seat Town Hall. Vornado has also revamped the street-level retail and food & beverage program to offer top-quality options at the ready for office occupants and neighborhood visitors, and recently welcomed Life Time Pickleball, New York City’s largest indoor facility.
Vornado’s investment in THE PENN DISTRICT also includes a series of public realm improvements, highlighted by Plaza 33, a pedestrian plaza that boasts mature trees, lush landscaping, circular stone benches, and colorful chairs and tables. Vornado has partnered with the NYC Department of Transportation to replace one-half mile of concrete sidewalks across THE PENN DISTRICT with distinctive granite stone pavers, and to double the width of the 7th Avenue sidewalks. It also created a street-level entrance at PENN 1, which leads directly to Penn Station’s recently renovated Long Island Rail Road concourse, which doubled the width of its walkway to 60-foot wide, and raised the ceiling to 18 feet. Vornado has filled both sides of the concourse with a mix of national and local retailers.
THE PENN DISTRICT is situated directly above North America’s most important mass transit hub, Penn Station. A total of 15 subway lines, along with Long Island Rail Road, New Jersey Transit, PATH, and Amtrak all converge in the district. They will be joined by Metro-North commuters starting in 2027. For more information on Vornado’s PENN DISTRICT campus, please visit HERE.
Weaver was represented by Neil Goldmacher and Michael Horn of Newmark. Vornado was represented in-house by Josh Glick, Jared Silverman, and Anthony Cugini.
About Vornado Realty Trust
Vornado Realty Trust is the preeminent owner, manager and developer of Office and Retail assets. Vornado’s portfolio is concentrated in the nation’s key market, New York City, along with premier assets in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability. The Company owns and manages over 26 million square feet of LEED certified buildings.
About Weaver
Weaver has built a nationwide presence on an unwavering commitment to its clients’ success, acting with integrity and always striving to transcend expectations. The Houston-based firm is nationally ranked by both INSIDE Public Accounting (IPA) and Accounting Today, including recognition as a Best of the Best Firm and Fastest Growing Firm by IPA in 2024. In addition, Weaver has received top workplace recognitions in many of the markets it serves.
From Fortune 500 multinational companies to start-ups, Weaver’s clients include commercial, government and not-for-profit organizations. The firm is particularly well-known in financial services, energy, manufacturing and distribution, construction, technology, real estate, health care and government. Weaver’s services go beyond traditional assurance and tax services to include risk advisory, IT advisory, energy compliance and consulting, forensics and litigation services, transaction advisory, valuation and specialty tax services, including international tax, state and local tax, tax credits and incentives, fixed asset advisory, tax provision, tax controversy and private client services. Learn more at www.weaver.com.
